Cuba’s new oil and gas regulatory framework took effect Oct. 19, establishing a legal basis to broaden domestic private-sector and foreign investor participation in exploration, production, refining, transport, storage and sales. Decree-Law No. 135 and implementing Decree No. 184 were published in the Official Gazette on Oct. 12. The measures relax access rules and allow qualified Cuban and foreign companies and individuals to engage in upstream and midstream activities, subject to required lice

Cuba’s new oil and gas regulatory framework took effect Oct. 19, establishing a legal basis to broaden domestic private-sector and foreign investor participation in exploration, production, refining, transport, storage and sales. Decree-Law No. 135 and implementing Decree No. 184 were published in the Official Gazette on Oct. 12. The measures relax access rules and allow qualified Cuban and foreign companies and individuals to engage in upstream and midstream activities, subject to required licenses. Subsoil hydrocarbon resources remain state-owned and the state retains priority purchase rights to oil and gas needed for energy security.